The trajectory of trans-Pacific spot rates brings to mind the retail-trader catchphrase “to the moon.”
Carriers implemented general rate increases (GRIs) on June 1. Spot rates rose. They enacted more GRIs on Tuesday. Rates jumped again, even more than they did earlier in the month. And another wave of GRIs is set for July 1. Add fallout from China port congestion to the mix, and it’s a recipe for rates to keep climbing.
“Despite record highs, rate levels continue to sharply increase,” said Lars...
https://www.freightwaves.com/news/rise-in-trans-pacific-spot-rates-is-relentless-and-accelerating